we have eric brock, china fund portfolio manager. his china fund returned more than 24% in 2012, which is really no mean feat, right, when you consider the chinese market -- >> great. >> has been kind of struggling for a little while, coming back now. is it time to invest? >> yes, we think it is. if you look at the cyclical indicators. we did havi don't want to pay t attention to the january, february data, because we have seasonal distortions with the chinese new year. if you look at the data in the last few months, you have cyclical indicators like power generation, where seeing growth 8%, 9%, industrial productions up 10%. exports have recovered. you have the cyclical story here. and now -- i would argue that china has actually entered a sweet spot in terms of economic growth. >> so, you put the hard landing theory to bed in. >> oh, absolutely. 12 months ago, that was a big debate. we've troughed out. what i would say, a sustainable level growth. 7.5%, 8%. more importantly, for equity market investors, we've had earnings headwinds